# New Grant - UNISX

**URL:** <https://discourse.uma.xyz/t/new-grant-unisx/1877>\
**Category:** Grant Programme\
**Created:** [December 27, 2022, 3:41pm UTC](https://discourse.uma.xyz/t/new-grant-unisx/1877 "2022-12-27T15:41:18Z")\
**Posts on this page:** 6\
**Page:** 1

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**Author:** ![Admin-UMA](https://avatars.discourse-cdn.com/v4/letter/a/f0a364/32.png) [@Admin-UMA](https://discourse.uma.xyz/u/Admin-UMA)\
**Post date:** [December 27, 2022, 3:41pm UTC](https://discourse.uma.xyz/t/new-grant-unisx/1877/1 "2022-12-27T15:41:18Z")

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Name of Applicant: UNISX  
Contact Address : [spac.synt@gmail.com](mailto:spac.synt@gmail.com)  
Wallet Address : 0xeb1e324ec0bac9af3b74a158c8461fd44f6ce8a1

* * *

Grant for Tooling

Brief Description  
We offer a tool for creating a variety of synthetic tokens in the form of an index. The index basket may include various underlying assets, such as company stocks, cryptocurrencies, ETFs, and other assets with a market price. In addition, the structure of the synthetic tool can take into account various ratings, rankings and even news events. The reliability of all synthetic data used to determine the price is ensured by using the UMA optimistic oracul mechanism.

Detailed description

The proposed end product is a tool for creating a variety of synthetic tokens in the form of an index. The index basket may include various underlying assets, such as company stocks, cryptocurrencies, ETFs, and other assets with a market price. In addition, the structure of the synthetic tool can take into account various ratings, rankings and even news events. The reliability of all synthetic data used to determine the price is ensured by using the UMA optimistic oracul mechanism.  
The proposed tool will provide developers of synthetic tokens with API to functions and smart contracts that automate the issuance and circulation of synthetic tokens, including staking and voting.  
Developers of synthetic tokens receive a tool for their applications based on UMA optimistic oracul with minimal development costs.

What would UMA lose out on if it did not fund this grant

By rejecting the grant, UMA will slow down the development of its own ecosystem by limiting the ability of developers to create applied synthetic tokens integrated with UMA optimistic oracul.

How many UMA tokens are you requesting for this project?  
5800

What percentage of the grant would you retain to secure the Optimistic Oracle by voting

25

How would you spend the remainder of the grant?

The remainder of thegrant will be spent in the following directions: Project management until completion; Development of price feed templates for information sources; API Development; Testing; Marketing; other costs required to complete the project.

How many months would this grant cover?

3

Additional Information

Our team is developing a synthetic token (uSPAC10), which is an index of the top 10 shares of SPAC. We consider this synthetic as a pilot from the line of more complex indexes. Based on the experience gained during the development, we claim that the tool we offer (API) will be necessary not only for us to further develop the project, but also for many independent developers, and will also contribute to increasing the number of synthetic tokens using UMA optimistic oracul.

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**Author:** ![Alex](https://yyz2.discourse-cdn.com/flex032/user_avatar/discourse.uma.xyz/alex/32/622_2.png) [@Alex](https://discourse.uma.xyz/u/Alex)\
**Post date:** [December 27, 2022, 6:53pm UTC](https://discourse.uma.xyz/t/new-grant-unisx/1877/2 "2022-12-27T18:53:53Z")

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Thank you for your application!

Can you go into further detail on what the tool / final deliverables will look like? Is the focus on documentation, a UI that makes the deployment process easier, etc. Also, do you plan on offering support to developers building synthetic tokens?

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**Author:** ![binomfx](https://yyz2.discourse-cdn.com/flex032/user_avatar/discourse.uma.xyz/binomfx/32/448_2.png) [@binomfx](https://discourse.uma.xyz/u/binomfx)\
**Post date:** [January 21, 2023, 9:36am UTC](https://discourse.uma.xyz/t/new-grant-unisx/1877/3 "2023-01-21T09:36:29Z")

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Thanks for the reaction! We will answer your questions in the near time.

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**Author:** ![binomfx](https://yyz2.discourse-cdn.com/flex032/user_avatar/discourse.uma.xyz/binomfx/32/448_2.png) [@binomfx](https://discourse.uma.xyz/u/binomfx)\
**Post date:** [February 10, 2023, 4:37pm UTC](https://discourse.uma.xyz/t/new-grant-unisx/1877/4 "2023-02-10T16:37:10Z")

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Despite the prediction of a challenging year for the cryptocurrency industry due to the current bear market, the evolution of blockchain technology will not be hindered. The demand for tools that enable developers to fully utilize the potential of DeFi technologies remains essential.

We acknowledge the significance of synthetic assets and their long-term potential, particularly when combined with UMA Optimistic Oracle. Hence, we are developing a tool that streamlines the creation of synthetic assets and offers ways to engage users and manage the project.

**The tool consists of:**

1. _A web interface_ for deploying LSP contracts with custom pricefeeds.
2. _A JavaScript function library_ that includes:
  - Minting and Burning of synthetics.
  - Increase/decrease of collateral.
  - UNISX token rewards for minting synthetics, providing liquidity on DEX, and staking UNISX.
  - Voting.
  - Access to important parameters such as the number of synthetic tokens, collateral tokens, rewards, voting status in the user’s wallet, current price of synthetics, Liquidation Price, Collateralization ratio, accrued rewards, and more.

3. _Pre-built smart contracts including_:
  - UNISX Reward Token
  - Voting token xUSX
  - Staking of UNISX reward tokens that calculate rewards and issue voting tokens.

We also offer _support_ for developers to create their own UMIP and pricefeed, or utilize the ones that we plan to provide for various markets. The developer has the following benefits:  
- Develop their own UMIP and pricefeed or use our pre-built options.  
- Deploy LSP contracts with desired pricefeed and parameters via a user-friendly web interface on UMA-supported networks.  
- Build a user interface for their synthetic using the JavaScript library.  
- Use our pre-built, functional smart contracts for user engagement, including a reward token with liquidity provided by all synthetic users.

Additionally, developers will be incentivized through UNISX token rewards based on the volume of synthetics issued by their users.

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**Author:** ![Alex](https://yyz2.discourse-cdn.com/flex032/user_avatar/discourse.uma.xyz/alex/32/622_2.png) [@Alex](https://discourse.uma.xyz/u/Alex)\
**Post date:** [February 28, 2023, 8:37pm UTC](https://discourse.uma.xyz/t/new-grant-unisx/1877/5 "2023-02-28T20:37:33Z")

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Apologies for missing this reply! This is an interesting proposal. A few questions:

- Do you have examples of any UI that you or your team have previously created? No problem if not, I am just trying to get an idea of the final deliverable.
- Does the original milestones/payout still apply?
- I noticed some references to EMP related params (liquidation price, collateralization ratio). Can you confirm if this proposal is for only the LSP or both EMP + LSP?

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**Author:** ![binomfx](https://yyz2.discourse-cdn.com/flex032/user_avatar/discourse.uma.xyz/binomfx/32/448_2.png) [@binomfx](https://discourse.uma.xyz/u/binomfx)\
**Post date:** [March 1, 2023, 3:34pm UTC](https://discourse.uma.xyz/t/new-grant-unisx/1877/6 "2023-03-01T15:34:44Z")

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Here are the answers:

> [@Alex](#):
>
> - Do you have examples of any UI that you or your team have previously created? No problem if not, I am just trying to get an idea of the final deliverable.
> 
> An example UI for the end user of synthetic tokens _uSPAC10_ and _UNISX_ reward tokens can be seen on the website: [unisx](https://unisx.xyz/actions)  
> Unfortunately, these synthetics were built on the basis of an EMP contract. Since UMA no longer supports this contract, we did not continue to release this product. We are currently working on switching to an LSP contract.  
> An example of an interface for the deployment of an LSP contract can be seen in the attached image.
> 
> ![LSP (1)](https://canada1.discourse-cdn.com/flex032/uploads/umaproject/original/1X/0f78564d7a34ec289459230ac047d8e59c6b3980.jpeg)
> 
> - Does the original milestones/payout still apply?
> 
> Sure
> 
> - I noticed some references to EMP related params (liquidation price, collateralization ratio). Can you confirm if this proposal is for only the LSP or both EMP + LSP?
> 
> Really. Historically, there is still somewhat of EMP left in our records. As I wrote above, we are switching to working with LSP since UMA no longer supports EMP. For example, EMPs are not represented in the Polygon network. Although the logic embedded in EMP contracts is more suitable for creating synthetic assets (but obviously more difficult to implement Optimistic Oracle).